Are you having trouble understanding the good faith estimate on your mortgage loan? You know that the fees can add up, but do you know what each of them are for? You have a right to question any charge at the closing of a home that you may consider excessive and/or unexpected. Being able to […]
Becoming a Loan Officer for a Kansas City Mortgage Company
- Your preparedness for the position
- What type of mortgage company fits your work ethic
- Your qualifications
Hard Work, High Stress, Big Rewards
Being a loan officer can be a very lucrative profession, but it’s certainly not for everyone. The average salary for a loan officer in Kansas City is around $85,000, but several factors should be kept in mind about the nature of this average. First, salaries are often commission-based. Second, many of your deals will fall through, so commission will be inconsistent. However, with the combination of hard work, the right connections, and luck, successful loan officers can make a six figure salary.
In addition to a loan officer’s salary at a Kansas City mortgage company, you get much more flexibility than the average career. Many loan officers work from 10am to 8pm, instead of 8am to 5pm. These hours accommodate the laws that restrict when loan officers can solicit potential borrowers.
Lastly, loan officers are the bridge between people and their dreams. With every successful loan closing you will have enabled a person, group, or family to get the home they want or need.
Where To Work
If you think you’re up for the job, it’s time to consider what kind of mortgage company you’d like to work for. Consider whether you would like to be a loan officer for a small, large, or mid-size Kansas City mortgage company. When you come up with a comprehensive list of possibilities, be sure to find out what and how you are paid, as this can differ greatly from company to company.
Education & Work Experience
As in any job search, educational and work experience will play a major role in what positions you qualify for. Educational requirements vary widely from a college degree to not even a high school diploma. Most loan officers are required to be certified by taking the Mortgage Loan Originator test.